Riyadh, (SPA) - Under the Chairmanship of the Custodian of the two Holy Mosques king Abdullah bin Abdul Aziz Al Saud, the Council of Ministers has yesterday approved the Government payment of 50% of the private university fees. The Council was also satisfied with the categorization of Global Rating Agency "Fitch" on the strength of the economy and the financial strength of the Kingdom and the good management of its foreign investments and reserves of foreign exchange and the disciplined supervision of its banking sector and maintaining the excellence degree "- AA" worldwide. This has come- thanks be to God- as a culmination of the Kingdom's wise financial policy adopted by the Government of the Custodian Of The Two Holy Mosques in spite of the global financial crises.In a statement to the Saudi press Agency (SPA), the Minister of Culture and Information Dr. Abdul Aziz Khojah said that the Council has approved the proposal of the Minister of Higher Education that the Government pay 50% of the private university fees to encourage students to attend private universities in the kingdom. Students studying before the implementation of this decision should be treated according the criteria of admissions of private students oversees but have their applications for scholarships approved. The Council of Ministers also decided that students be admitted to educational institutions in the Kingdom through government and private universities and academies according to the desired specializations if they could not secure admission to the same specializations in Government universities in this case the government will pay the fee of 50% of the admitted students annually in private universities and colleges for the next five years.